Russian National Welfare Fund to invest in domestic securities - Putin

MOSCOW Wed Dec 12, 2012 4:19am EST

MOSCOW Dec 12 (Reuters) - Russia's National Welfare Fund should invest up to 100 billion roubles ($3.25 billion) into Russian securities next year, President Vladimir Putin said on Wednesday in his an annual state-of-the-nation address.

The National Welfare Fund, presently worth $87.5 billion, is the larger of two sovereign wealth funds accumulated from oil revenues.

It is designated to support the long-term stability of the pension system, and is presently mostly invested abroad in bonds of western governments.